JUST IN: Pres. Trump fires back at China , announcing tariffs will increase to 30% in October. The move follows a 600-point drop in the stock market today amid concerns about the escalating U.S.- China trade war.
President Trump 'ordered' American companies to look for an alternative to China after it threatened another $75 billion in tariffs on American goods.After China announced a new round of retaliatory tariffs on U.S. goods on Friday, President Trump struck back later in the day by raising the rate of U.S. tariffs on Chinese goods. The president said in a series of tweets that $250 billion in Chinese goods currently tariffed at a rate of 25% will increase to 30% beginning Oct. 1. The remaining $300 billion in goods set to see a 10% tariff rate on Sept. 1 will be taxed at 15%. In his tweets, the president scolded China for imposing fresh tariffs, calling them “politically motivated.” But the new Chinese tariffs amounted to direct retaliation to the United States latest round of tariffs. For many years China (and many other countries) has been taking advantage of the United States on Trade, Intellectual Property Theft, and much more. Our Country has been losing HUNDREDS OF BILLIONS OF DOLLARS a year to China, with no end in sight.... The tweet storm came as the president was preparing to meet world leaders to discuss the global economy and after China announced it would impose tariffs on $75 billion worth of U.S. imports in retaliation for duty hikes the United States pledged to slap on Chinese imports starting next month. The announcement also came just before the chairman of the Federal Reserve gave a speech investors and analysts planned to scrutinize for signs of how the central bank would address worries of a slowing economy -- and as President Trump sent mixed messages on tax cuts. Fed chair Jerome Powell suggested Friday that Trump’s trade wars were contributing to a possible global slowdown – and he said they have made it more difficult for the Fed to set policies on interest rates, according to the Associated Press. Powell did not offer any clear signal on further cuts to interest rates, though, during his widely watched remarks in Jackson Hole, Wyo., according to the AP. Just after Powell spoke, Trump again blasted the Fed -- saying in a tweet that it"did NOTHING" -- and questioning who was"our bigger enemy" -- Powell or China's President Xi Jinping. ....My only question is, who is our bigger enemy, Jay Powel or Chairman Xi? China said that it would impose its new penalties on two batches of goods, on Sep. 1 and Dec. 15, according to the official Chinese news agency Xinhua. It said 5,078 American products would see duty hikes of 5 or 10%, and that on Dec. 15, it would hit"American-made vehicles and auto parts" with tariffs of 5 or 25%, according to Xinhua. Those dates match when the Trump administration said a 10% tariff would go into effect on $300 billion worth of imports from China. After China announced the move, Trump lashed out on Twitter."We don’t need China and, frankly, would be far... better off without them," he wrote. Trump also said"American companies are hereby ordered to immediately start looking for an alternative to China," and he said he was"ordering all carriers" -- including, he said, the U.S. Postal Service, FedEx, UPS, and Amazon -- to"SEARCH FOR & REFUSE" deliveries of fentanyl. ....better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing.. It was unclear under what authority the president thought he had to tell private companies how to conduct their business, and he did not elaborate. He said he would offer further reaction to the Chinese tariff announcement Friday afternoon, but he and the White House offered no explanation of what he meant. White House trade adviser Peter Navarro earlier in the morning downplayed China's announcement as"well anticipated." "When China reacts like this, what they simply do is strengthen the resolve of this president," Navarro said in an interview with CNN, referring to Trump. The U.S. Chamber of Commerce said that"continued tit-for-tat escalation between the U.S. and China is putting significant strain on the U.S. economy, raising costs, undermining investment, and roiling markets." "While we share the President’s frustration, we believe that continued, constructive engagement is the right way forward," Myron Brilliant, the Chamber's executive vice president and head of international affairs, said in a statement. Trump planned to depart for France later Friday to attend a meeting of the Group of Seven, or G7, major industrialized nations, where the state of the world's economy will take center stage. Those nations' leaders are scheduled to attend a meeting on the global economy on Sunday morning -- a session added at the last minute at the United States' request, according to a senior U.S. administration official. This week, as the economy flashed warning signs of a possible downturn, the president suggested a variety of remedies -- even as he argued they were unnecessary. He and his senior advisers have tried to stave off consumer concerns about a possible recession -- arguing the economy is strong, even as they discuss potential fiscal boosts. After Trump first said earlier this week he was considering a payroll tax cut, he reversed himself and nixed that idea the next day. He has also floated indexing and a capital gains tax cut. Then, on Thursday, his top economic adviser, Larry Kudlow, told reporters that the White House was not considering any short term actions to jolt the economy but is developing a long-term"tax cuts 2.0 plan," possibly to be unveiled during the 2020 campaign. Trump on Friday morning argued in a tweet that the economy was"strong and good, whereas the rest of the world is not doing so well." He has made the economy a central message of his campaign, and he accused the news media and Democrats of wanting a recession in order to tank his reelection chances. The Economy is strong and good, whereas the rest of the world is not doing so well. Despite this the Fake News Media, together with their Partner, the Democrat Party, are working overtime to convince people that we are in, or will soon be going into, a Recession. They are..... Read more: ABC News
Its not just china. No one will buy holiday gifts... This entire issue is a fight between corporations, the 1% and the countries they live in. The middle class Americans have no skin in this game. Their 401K's are safe in the S&P. It will be okay! The Market recovered! People panic - they need to respect decisions by someone who knows what he is doing. PATIENCE - TRUST!! 💰📈 👍🇺🇸😊🙏👏👏👏
Trump is willing to screw the US over just so he doesn’t lose. He thinks China is going to blink. They’re not a democracy! Xi has nobody to answer to. Trump thinks he doesn’t. That’s the problem! News recites Trump's tweet and uses the word 'quote' but the words quoted are completely different from what Trump actually said, totally different message. The tweet did not read, 'hereby ordered to stop doing business with China.' Why is this OK, ABC?
China has a bunch of Christmas crap they need to sell. Trump wanted no tariffs either way and China said no. China can just call in the 1 trillion debt that America owes and it would crash America’s economy Haha I finally saved up enough money to put in an index fund last week 😀🔫 Idiots in the comments think China is the good guys when theyve got actual concentration camps for Muslims in Eastern china *facepalm*
Trump is a nut case..he puts tariffs on China but when they respond with their tariffs on U.S he says it politically motivated🤦🏽♀️
Trump Orders American Companies to ‘Start Looking for an Alternative to China’Breaking News: President Trump said U.S. companies should look for 'an alternative to China ' after Beijing retaliated with new tariffs in the escalating trade war Well done President Trump! Recession here we come. Yeah, start with Trump products
Get that idiot away from power!!!! NOW!!! Khrushchev was right he will beat the US from within without firing one shot. There goes Christmas. Look at the world map. Look where the worlds factories are located. Look where china is. Then look where the US and other countries are located and do the math. How much money do all these countries have to pay for STUFF. God loves you all.
We can always count on Trump to do his part. Unfortunately it's always the wrong part. This is just nuts. wtf He is stuck in a 3rd grade dodgeball grudge match and the other team just doesn’t give a fk! No decision he has made is for the benefit of Americans idgaf what he says. He’s in it for himself and nothing more!
Christmas is going to be spendy. 7NY Look at the world map. Look where the worlds factories are located. Look where china is. Then look where the US and other countries are located and do the math. How much money do all these countries have to pay for STUFF. God loves you all.
President Trump announces retaliatory tariffs against ChinaBREAKING: President Trump announces further tariffs on China in ongoing trade war, as concerns about the US economy grow. Hey senatemajldr you may want to consider wrapping up your vacation and stop your dear leader (aka orange clown baby) from tanking our US economy! You know... The economy BarackObama left behind, that you try to take credit for... Just saying... 🤔KenCalvert The concerns about the economy have been created by the media. 1st Q GDP: 3.1% 2nd Q GDP: 2.1% 2.6% annual GDP thru 2 Quarters. In July, Consumer Confidence hit 18 year high. $300 billion tax hike on all Americans courtesy of a Friday night news dump tweet.
.realDonaldTrump increases cost of goods so Americans will face greater costs I thought it was 15%? Absolutely best President! Throw China away buy American products!!! Short term pain for long term gain. Someone has to make China finally play fair thanks PresidentTrump for fighting the good fight for America
Keep Russia Great This is an emotional, not a logical response by POTUS Welp, Trump just cancelled Christmas. Now we see who really is waging the war on Christmas. First Act: Tariffs Second Act: Stock Market drops Third Act: More Tariffs Fourth Act: Stock Market keeps dropping Fifth Act: Well... probably with more tariffs it will be ok. How is the name of the play?
Good. F*ck China!
Trump Again Accuses American Jews of Disloyalty“If you want to vote Democrat, you are being very disloyal to Jewish people and very disloyal to Israel,” President Trump said. ... and the problem? No worries - they should stop and all is well again. What am I missing? It seems to be logical that Jews don´t support radical antisemitism or a party supporting it. Dems support Omar & Tlaib in their radical antisemitism so far. If Dems don´t change this, I can´t see Jews voting for Dems if they know this. That´s what Trump said.
Bet you at the G7 he throws a tantrum and walks out! Back to you China 😂😂😂🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸 25thAmendmentNow unfit, abuse of power, malfeasance, mentally unstable ImpeachNow He’s bankrupting us according to plan.
Ford names new president for China JV amid falling salesFord Motor Co on Thursday named Steven Armstrong president of the Changan Ford j... Last year, Ford's capacity utilization rates in China assembly plants were below 50%, missing the 70%-75% break-even point, and equilarinc notes that CEO James Hackett was awarded a $17.7 million pay package in 2018. $F execpay corpgov
GOP fundraises off Greenland flap: 'Support President Trump and his efforts to help America grow!'Greenland isn't for sale, but Republican donors can get a T-shirt that suggests otherwise The people of Greenland have been praying and begging God to have Trump purchase it. They want to be a part of the best country in the world! For the right price everything is for sale Wow a t-shirt, quite the breaking story
President Trump Sings 'Baby Shark' & Gets Chased by King Jong Un in New Parody Video: WatchPresident Trump sings and dances to 'Baby Shark' in silly new parody video by YouTuber Maestro Ziikos. HELL NO no. oh fuck no